Where is the outrage? There are 3 or 4 diaries today on the bail-outs, the bonuses, the Wall Street stupidity, their overnight banks approved after Tarp, getting all that "free" money resulting in their record profits today. Those diaries have few comments, all are all excellent diaries.
Really, where is the outrage? We are all worked up over the proposed "health care reform" that grows increasingly less reform and more Insurance Company "bail-outs." Has that sell-out sucked out all of our energy?
It was September of 2008 that Paulson told congress the sky was falling and threatening martial law.
After the Tarp funds were approved without restrictions, did the 110th Dem controlled congress pass any new laws to protect the country, to protect the taxpayers, any little law at all, really any little law?
The 111th congress now starting its second year, any little ole law at all passed? What will it take? President Obama promised so much and is now starting his second year
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The secrecy of our government in using taxpayer dollars has become total. It is not our right to know what decisions they make with our tax dollars.
Meanwhile, America's Main Street community banks -- the vast majority of which avoided the banquet of greed and corruption that created the toxic economic swamp we are still fighting to get ourselves out of -- are struggling. Many of them have closed down (or been taken over by the FDIC) over the last 12 months. The government policy of protecting the Too Big and Politically Connected to Fail is badly hurting the small banks, which are having a much harder time competing in the financial marketplace. As a result, a system which was already dangerously concentrated at the top has only become more so.
http://npowebsite.net/...
Dylan Ratigan and Michael Moore
Does Washington have the balls to clip the goose currently laying the golden eggs on Wall Street? Who in Washington might raise the topic? Where are our statesmen when we need them?
http://wallstreetpit.com/...
Obama talks fees on banks, and Banks Brace for Bailout Fee.
"In our industry, costs are typically passed along to institutions and individual investors, so the burden will likely fall on them," said Timothy Ryan, president of the Securities Industry and Financial Markets Association.
When do the fraud investigations start? OR It wasn't fraud at the time?
When do the fraud investigations start? OR IF It wasn't fraud at the time.........In the words of my grandfather,
"there ought to be a law."
UPDATE: And it just keeps coming!
Overnight created into bank holding company to gain access to taxpayer dollars: Dearly beloved Goldman Sachs, is playing craps again, and betting equal, offsetting amounts on both the Pass and Don't Pass lines, or the Come and Don't Come.
Goldman Sachs has created and sold bundles of mortgages known as collateralized debt obligations while at the same time selling them short. http://dealbook.blogs.nytimes.com/...